I couldn't believe the answer was "no," so I googled the crap out of the issue, and it appears that the answer is, in fact, "no, and we can't believe it either."
Seems the best suggestion on how to deal with this is to become a pro at using labels and filters. I don't really mind all of my emails syncing to my phone, but I don't want to be alerted to it -- so I just have my "priority inbox" as my main gmail box, and that's the only one I have set to give me notifications. (Then, when I'm bored, I'll take a look at what's in the general inbox.)
I'm not a big ol' filtering pro, but here's gmail help on it:
Using filters - Gmail Help
It looks like you could pretty easily set up a filter to send all your photography group email to a separately labelled folder (say, Photography Group) and then have those emails skip the inbox. Then, from your phone, don't sync the Photography Group stuff (or, if you're like me, sync it, but turn off notifications).